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problems it's unclear how deeply the u.s. will engage on global issues such as syria, iran or china. u.s. relations with the outside world there are more difficult challenges to come. nhk world, washington. >>> president obama won, but he faces many economic challenges. we now ask an expert's view about his outlook. in our new york studio is richard katz, the editor in chief of the oriental economist report, newsletter on japan. mr. katz, thank you very much for joining us today. >> sure. >> among the many challenges president obama will first face the so-called fiscal cliff. how do you think he'll deal with it, and how will that affect asia? >> i think it will be very difficult to deal with it. the republicans have made it clear they continue to want to be the party of no. they're not willing to compromise on a combination of tax hikes and spending cuts. i say there's about a 50/50 chance the fiscal cliff could be avoided. at best it may be extended by a few months. if the fiscal cliff is short and then people come to their senses and compromise, the impact on asia will be small. but if
for people in the state of new york. the storm that hit the u.s. northeast put some polling stations out of commission. the governor is relaxing the rules so voters won't be shut out. andrew cuomo issued an executive order allowing residents in areas affected by the storm to vote at any station. officials in neighboring new jersey are also making it easier for people to cast ballots. more than 60 polling stations in new york city are still unusable because of flooding or lack of electricity. workers have set up alternative sites. the voting process in manhattan and the city's other boroughs has become more high-tech. people will be using a new electronic system. they mark paper ballots then insert those into a scanner. it's the first time the system people will use the system in a u.s. presidential election. the results will start streaming in tuesday evening in united states. obama and romney will watch the returns come in from their respective home bases, chicago and boston. obama arrived in his hometown early in the morning with the first lady. the latest polls suggest the president a
cementing his position as successor to president hu jintao. he visited the u.s. in early 2012 to promote relations. his counterpart, vice president joe biden, was with him for much of the five-day visit. >> xi showed that on some issues the two governments will not necessarily see eye to eye. >> reporter: xi will likely be joined at the top by the man widely expected to become china's next premier. >> lee became a member of the politburo standing committee in 2007. he skipped the stage of politburo member during the communist party convention along with xi jinping. lee became vice premier in 2008. lee is 57 years old. he hails from a province and is currently in charge of domestic policy. >> li studied law at the prestigious beijing university, where he went on to get a ph.d. in economics. hiss classmate told us li also dedicated himself to studying english. he said the man who will become china's premier show nod sign he would become a politician. >> i think every single day he had a lot of tickets in his pocket. in one side, he write english, another side, chinese together. start out l
, this is the journal. >> here's a look at what's coming up. >> the u.s. heading towards its fiscal cliff. the president reaching out to congress. >> the german parliament passes a disputed child care benefit. >> the day of the wall came down. evens that changed everything. >> in less than two months, the u.s. will enter the perfect economic storm known as the fiscal cliff. a combination of tax increases and budget cuts could send the united states back into recession. >> barack obama back at work after his election reached out with republicans today saying he wants to reach a solution but only f the ridges are asked to give more. >> i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenge, but i refuse to accept any approach that is not balanced. i'm not going to ask students and seniors, middle-class families, to pay down the entire deficit while people like me, making over $250,000, are not asked to pay one dime more in taxes. i'm not going to do that. "the very clear word from the newly elected president. what do you think? you have the president inviting congress
's second largest economy behind the u.s. the chinese government with its growing military started to flex its muscles in the region. it wrangled with asian nations over control of islands in the south china sea and east china sea. >> and joining us now is michitaka. michitaka, you were with me in the great hall of the people when president hu was giving his final speech as communist party general secretary. what do you make of his words? >> the most notable part of the speech was when president hu spoke about the concept he's long supported. he was to make scientific outlook on development one of the communist party's guiding principles. it calls for review of the party's growth and economic policy and aims to incorporate sustainable development, which takes into account social welfare and the environment, making this concept a guiding principle would be part of hu's legacy. it would give him the same status as leaders past including dung zhao ming and deng xiaoping. and it will help him maintain influence within the party after he steps down. hu also advocates during his speech that chin
. they also warned of the u.s. fiscal cliff. fiscal austerity is expected to increase. the finance chiefs cautioned extreme belt tightening could trigger a further slowdown. they point to the failure so far for debt covering bonds. they have decided to present reliable reconstruction plans for 2016 and beyond. called for growth strategies along with fiscal reform. they urge nations in fiscal good standing to step up to stimulate growth. now, it's not only the financial leaders who are worried about the slowdown. yuko fukushima joins us from the desk. how are investors feeling these days? >> good morning. understandably many of them are nervous. and they're hoping to get some clues from the u.s. presidential election. this is because investors on wall street are also feeling the downside risks of the economy. especially with the so-called fiscal cliff. right now they're staying on the sidelines through the election. new york markets ended slightly higher. the dow jones up by .15% and closed at 13,112. we'll have to see how stocks here in japan are trading this tuesday morning. we go to ram
is going. but for now, that wraps up our coverage from beijing. i'm james tengan. >>> u.s. leaders have been tracking china's political transition. president barack obama's administration has watched the chinese economy and military grow and has promised to take a tough stance with china on trade and other economic matters. the obama administration has also closely monitored china's disputes with japan and southeast asian nations over the islands in the east and south china seas. senior officials have refused to take sides. the president announced a year ago he will shift his country's focus to the asia-pacific region. he will have a chance to talk more about that plan over the weekend. obama will begin a four-day tour of southeast asia on saturday. he will be visiting thailand and myanmar and will attend the east asia summit in cambodia. the president promised during his re-election campaign to put more pressure on china to make it meet basic international standards with respect to trade. but analysts say despite his plans the world's top economies are tightly woven together and that i
for maritime interests. u.s. president barack obama will hold talks with japan's prime minister yoshihiko noda and chinese premier wen. aimed at addressing strained relations over claims to the senekaku islands. the president is expected to stress any differences should be peacefully resolved according to international law. >>> now, japan's prime minister has praised myanmar's rapid reforms. and he's offered the country a development loan worth $600 million. yoshihiko noda met thein sein on the sidelines of the summit. myanmar has made steady progress on political reform. he promises to support the economic development. japan's public and private sectors will back reform efforts. it will be the first yen loan in almost 26 years. myanmar's leaders will use it to refurbish a thermal power plant in yangon. japan's government will extend the loans in february next year at the earliest. myanmar's to foreign investors. >>> letting out a small sigh of relief. trade agreement. joins us from the business desk. what's the story here? >> as you know, political tensions have tied up in parts of east asia.
with the development of long-range his ls. u.s. researchers at johns hopkins university say the country has conducted at least two tests of large rocket mortars since its failed launch in april. one satellite image shows the removal of fuel tanks and the appearance of exhaust stains. the researchers say their science tests have been carried out. another image shows similar discolorations and stains in an object that appears to be a large rocket engine. the analysis also says construction activity is under way to launch an even bigger rocket. it warns that north korea may start a new round of nuclear and rocket tests in the first half of next year. >>> several rockets have landed near sensitive targets in the capital of afghanistan. cholaphansa narula in bangkok is following this story. >> the afghan intelligence agency is one of the locations near tuesday's attacks in kabul. the incidents underline the security challenges afghanistan faces as nato-led combat troops prepare to withdraw by the end of 2014. >> translator: it was around 6:30 in the morning. a rocket landed here and hit a car, wounding tw
u.s. president barack obama and his republican challenger, mitt romney, have begun their final round of campaigning in battleground states. romney is using a new strategy to win over voters ahead of tuesday's election. the latest poll by abc news and the washington post suggests obama and romney both have support rates of 48%. romney is focusing on wisconsin, one of the swing states where obama is said to have a lead. >> the contacts made in wisconsin over the last months have just blown everybody away, and i want to thank you for the work you're doing. that's going to help us get this victory. >> romney is likely to still have a chance of winning if he takes wisconsin, even if he loses another key state, ohio. the republican challenger is also running more tv ads in pennsylvania, michigan, and minnesota. obama is expected to win more votes from the electoral college made up of electors allocated to each state. >> if you are willing to work with me and knock on doors with me and make some phone calls with me and turn out with me and grab your friends and neighbors and co-worker
unfounded. also, the information stored on servers in the u.s., which opposes legal problems. can it then be used as evidence in german courts? public opinion is divided. >> our privacy keeps shrinking. i do not like it. >> if they are using it as a tool to solve crimes, sure, why not? >> the lower saxony police have found an effective way to use this book is to post links on it to their german-based site, which contains pictures and detailed descriptions. it is a legal work around that could become a national blueprint for digital crime solving. >> christie's has recorded the most successful sale of contemporary art ever, taking in more than $400 million. >> many buyers are increasingly seeing art as a safe investment now. a large-scale sculptures sold for $33.7 million, the highest -- second-highest price ever achieved at an auction by a living artist. coming up after the break, we will be taking a look at china's new leadership. do not go away. >> stick around. >> welcome back. he's just become one of the most powerful men in the world. >> today in beijing, he was named the gen
with its strongest rivals such as u.s. giant general electric. damascenes missed its earnings target by a wide margin and got beaten by rivals in the number of sectors. management now plans a sweeping reform to get the company back on track. it plans to beef up core activities and sell off unprofitable units. the effect of the workforce is uncertain. >> on to the day's market action. after starting off in positive territory, european shares slipped back in afternoon trading. our correspondence sent the summary of the thursday trading session in frankfurt. and investors really liked what siemens had to say, applauding efforts to generate more profits by accelerating the efforts to save costs. it was one of the top gainers of the day, and it also supported the move in the general market for a long time. also helping that mood, the greek parliament said yes to a hard austerity program that is difficult for the population but that will bring savings of up to 13.5 billion euros. investors liked that. the mood changed, though, to the - when the ecb came through, the european central bank,
and drug use. he could face the death penalty. >> united nations has reviewed it demand for the u.s. to lift its embargo on cuba. the general assembly voted overwhelmingly to adopt a non- binding resolution calling for united nations members to consider the embargo illegal. only the u.s., israel, and an island state voted against. >> rome has been put on alert as the flooding has now reached the country's capital. >> meanwhile, people are beginning to clean up. the extent of the damage from the record flooding is becoming apparent. >> there was no rain on wednesday in central italy, but that was a small consolation to those affected by damage from the flooding. some areas in the region have not seen flooding is bad for 200 years. but back then, the river valleys were not built up. >> i have never seen anything like it. completely unexpected. it is breaking us. >> the regional governor of tuscany has blamed climate change for the catastrophe and said the flooding could get worse in the future. farmers are worried that crops could fail. the tiber valley has been particularly hard hit.
>>> welcome to "newsline." u.s. president barack obama says it's he time to bget back to wok on the economy. he says they can start by going along with his plan to extend tax breaks for the middle class. obama used the first speech since re-election to outline his plan to cut the federal deficit. he said he wants to raise taxes on the rich and says the majority of americans agree with his approach. >> nobody, not republicans, not democrats, want taxes to go up for folks making under $250,000 a year. so leept's not wait. even as we negotiate a broader deficit reduction package, let's extend the middle class tax cuts right now. >> obama is open to compromise and new ideas and he'll invite john boehner to the white house next week to look for common ground. boehner said higher taxes just for the wealthy are unacceptable. still, republicans and democrats agree on the need to aavoid a so-called fiscal cliff. attention is now focused on whether they can narrow their differences on higher taxes for the rich. >>> top officials from across china are mapping out where the country will
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